Silo Pharma, Inc.

Silo Pharma, a developmental-stage biopharmaceutical company, announced positive stability data for its investigational soft-mist intranasal prophylactic, SPC-15. The data confirmed the physical, chemical, and microbiological integrity of SPC-15's formulation over nine months of real-time testing and six months under accelerated conditions. This milestone supports the continued advancement of the company's FDA Investigational New Drug (IND)-enabling development program and validates adherence to cGMP standards, moving SPC-15 closer to a Phase 1 clinical study for stress-induced psychiatric conditions like PTSD and anxiety.

Silo Pharma announced it has regained compliance with The Nasdaq Stock Market LLC's minimum closing bid price requirement as of June 17, 2026, and the matter is now closed. CEO Eric Weisblum thanked investors and expressed confidence in advancing the first-in-human clinical trial for SPC-15, targeting PTSD, and progressing its AI agents platform, QwikAgents. The company focuses on novel therapeutics for underserved conditions including stress-induced psychiatric disorders, chronic pain, and CNS diseases.

Silo Pharma, Inc. announced a 1-for-15 reverse stock split of its issued and outstanding common stock, effective June 2, 2026, at 4:01 p.m. Eastern Time. Trading on a post-split basis will begin on The Nasdaq Capital Market on June 3, 2026, under the existing symbol "SILO". This action will reduce the current outstanding shares from approximately 16.267 million to 1.084 million, with proportionate adjustments to equity awards and warrants. Concurrently, the company's authorized common stock will be reduced to 6,666,667 shares.

Silo Pharma reported a net loss of $1.65 million for the first quarter of 2026, an increase from $1.03 million in the prior year, primarily due to a significant rise in research and development expenses. The company also announced the formation of Qwikagentsai Inc., a new wholly-owned subsidiary, to diversify its business into artificial intelligence technology, focusing on web-based AI agent platforms. Despite the increased loss, Silo Pharma maintains a positive working capital of $6.10 million and believes it has sufficient liquidity for at least the next twelve months.

Silo Pharma announced a strategic initiative to develop ibogaine-based therapeutics for traumatic brain injury (TBI) and related neuropsychiatric conditions, filing a provisional patent application for its use. This move aligns with federal efforts to accelerate mental health innovation using psychedelic medicines, noting ibogaine's potential for conditions persisting after standard therapies. The company aims to address a significant unmet medical need in the TBI therapeutics market, estimated to reach $6.0 billion by 2032, as no FDA-approved treatments currently address structural or regenerative aspects of TBI.

Silo Pharma, Inc. (SILO) commended recent coordinated U.S. federal actions accelerating the development of psychedelic-based therapeutics for mental health and substance use disorders. These initiatives include ARPA-H awards to institutions like Johns Hopkins for psychedelic science, FDA IND clearance for DemeRx NB's noribogaine, and FDA Commissioner’s National Priority Vouchers for companies like Compass Pathways. Silo Pharma believes this federal focus validates its data-driven approach to treating neurological and psychiatric conditions, including its own SPC-15 for PTSD. The company anticipates imminent final FDA guidance for psychedelic drug development, which is expected to provide critical clarity for the sector.

Silo Pharma, Inc. announced a strategic expansion into AI technology, establishing a new subsidiary to operate its recently acquired Qwikagents.ai platform. This move aims to create new revenue streams by leveraging the rapidly growing AI agent market, which is projected to reach $47-$53 billion by 2030 with 43-50% annual growth. The company emphasized its continued commitment to advancing its PTSD program (SPC-15) towards Phase 1 clinical trials, alongside this new AI venture.